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Crane division takes delivery of first of £2M+ investment in new cranes
Date: 10/02/2008
Following an 80% growth in turnover in the crane hire division in recent years, the Specialist Hire Group has embarked on a major investment programme to expand and upgrade its crane fleet in its Jardine Crane Hire and Marsden Crane Hire subsidiaries. The first of five new cranes, a Demag AC40-2L, a 40 tonne capacity machine, was delivered in February with an identical crane to be delivered in May. This will be followed by two Grove GMK3050’s, with 50 tonne capacity in June and July and finally a 200 tonne Demag AC200 –1 in August.
‘This scale of investment is a major vote of confidence in the crane hire division which has performed well in recent years’, said Peter Cosgrove, Chairman and Chief Executive of the Group. ‘ With crane lead times moving farther out on a daily basis as world demand exceeds capacity, we have been fortunate in working with two suppliers who have seen the potential in our business and worked hard to supply us within a reasonable period. It is our first move in to the market above 100 tonnes with our own crane, but we have an experienced team to run the crane and a wide customer base to whom we have already hired equipment of this size.’
The Specialist Hire Group was recently named in both the Sunday Times Fast Track 100 which recognises the fastest growing privately owned businesses, and Fast Track Buyout 100 which recognises profit growth in privately owned companies.
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